Exploiting a granular dataset of banks' security holdings I assess the impact of unconventional monetary policy on bank lending and security holdings. Using a difference-in-differences regression setup and holding the security composition of each bank constant at its level in January 2014, well...

In this paper a novel survey dataset allows us to use a direct measure for credit constraints as well as a direct measure for the innovative activity of a firm to identify the effects of credit constraints on the innovation behaviour of firms. Furthermore, the design of the survey questions and...

This paper documents significant cross-border effects of the 2014 US money market fund (MMF) reform on MMFs in the euro area. As US-based prime MMFs became less money-like due to the reform, euro area-based prime MMFs received large inflows from foreign investors. These cross-border flows were...

We show that the transmission of the European Central Bank’s (ECB) recent monetary policy tightening differs across banks depending on their level of excess reserves. Specifically, the net worth of reserve-rich banks may display a boost when the interest rate paid on reserves increases...

In this paper we challenge the view that the oil price has lost its influence on economic activity after the mid-1980s. While we concede that typical VAR models put forward in the literature fail to identify oil price shocks that significantly affect aggregate production, we obtain clearly...

We construct a meta-ranking of 315 economics journals based on 38 different individual rankings. Our ranking incorporates both bibliometric measures from three different databases (Web of Knowledge, RePEc and Google Scholar) and previous rankings in the literature. Furthermore, we account for...

Im September 2013 veröffentlichte die Frankfurter Allgemeine Zeitung (FAZ) ein neues Ökonomenranking. Dieses berücksichtigt neben der Forschungsleistung auch noch zwei weitere Aspekte: Medienpräsenz und Politikberatung. In diesem Artikel wird das FAZ-Ranking einer kritischen Analyse...

Different studies provide surprisingly a large variety of controversial conclusions about the forecasting power of an indicator, even when it is supposed to forecast the same time series. In this study we aim to provide a thorough overview of linear forecasting techniques and draw conclusions...

The Ifo Institute for Economic Research has been conducting regular business surveys since its foundation in 1949. The most well-known of Ifo's surveys is the Ifo Business Survey (ifo Konjunkturtest). The micro data of the Ifo Business Survey are accessible to external researchers on-site at Ifo...

Das ifo Institut für Wirtschaftsforschung in München führt seit seiner Gründung im Jahr 1949 regelmäßige Unternehmensbefragungen durch. Bisher bestand kein institutionalisierter Datenzugang zu den Mikrodaten für Forscher außerhalb des Institutes. Die Mikrodaten werden nunmehr im ifo...